Morningstar DBRS Discontinues Credit Rating on CaixaBank PYMES 10, FT

DBRS Ratings GmbH (Morningstar DBRS) discontinued its CCC (sf) credit rating on the Series B Notes issued by CaixaBank PYMES 10, FT.

The discontinuation reflects the full repayment of the Class B Notes on the 25 April 2025 payment date. Prior to their repayment in full, the outstanding principal balance of the Class B Notes was EUR 377,671,907.20.

The principal methodology applicable to the credit rating is "Rating CLOs Backed by Loans to European SMEs" (19 November, 2024) https://dbrs.morningstar.com/research/443198.

In Morningstar DBRS' opinion, a Discontinued-Repaid credit rating action does not warrant the application of the entire principal methodology.

For details on analytical and regulatory disclosures please refer to the latest rating action press release published for this transaction: https://dbrs.morningstar.com/research/435989.

Lead Analyst: Baran Cetin, Assistant Vice President
Rating Committee Chair: Carlos Silva, Senior Vice President
Initial Rating Date: 20 November 2018

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A description of how Morningstar DBRS analyses structured finance transactions and how the methodologies are collectively applied can be found at: https://dbrs.morningstar.com/research/439604.

For more information on this credit or on this industry, visit dbrs.morningstar.com or contact us at info-DBRS@morningstar.com.